Daily GK and Current Affairs Quiz – 14th May 2021

Correct Answer: C. Manisha Kapoor

Explanation: Advertising Standards Council of India (ASCI) announced that its general secretary Manisha Kapoor has been appointed to the executive committee of the International Council for Advertising Self-Regulation (ICAS). Until April, ASCI served on the executive committee as a member for a two-year term. Now, Kapoor will play a leadership role on the committee till 2023. She will be one of the four global vice-presidents on the executive committee.In her role as part of the ICAS leadership team, she will promote advertising self-regulation as an optimal mechanism for consumer protection, strengthen ICAS as a global alliance and facilitate knowledge sharing among SROs to establish best practices and monitor global trends in advertising ecosystem that impact self-regulation. She will also work closely with established and emerging digital platforms to make the online space more transparent and fair for consumers.

Important Points:

• President of ICAS: Guy Parker;
• ICAS Headquarters: Brussels Capital, Belgium;
• Advertising Standards Council of India Founded: 1985;
• Advertising Standards Council of India Headquarters: Mumbai.

Correct Answer – E. Homen Borgohain

Explanation: Noted Assamese litterateur and journalist, Homen Borgohain has passed away. He was associated with several newspapers and was most recently working as the editor in chief of Assamese daily Niyomiya Barta until his death. He was also the President of Assam Sahitya Sabha. He was awarded Sahitya Akademi Award in 1978 for the Assamese language for his novel ‘Pita Putra’. He has written several novels, short stories and poetry.

Correct Answer – D. 4.29%

Explanation: The country’s retail inflation, measured by the Consumer Price Index (CPI), eased to 4.29 per cent in the month of April. Separately, India’s factory output, measured in terms of the Index of Industrial Production (IIP), witnessed a growth of 22.4 per cent in March, two separate data released by the Ministry of Statistics & Programme Implementation (MoSPI). The retail inflation during the month of March was at 5.52 per cent. This is the fifth consecutive month that the CPI data has come within the Reserve Bank of India’s (RBI) upper margin of 6 per cent. The government has asked the central bank to maintain retail inflation at 4 per cent with a margin of 2 per cent on either side for a five-year period ending March 2026.

Correct Answer – B. Freedom Fighter

Explanation:  Freedom fighter and Swadhin Bangla Betar Kendra musician, Anup Bhattacharya passed away. During the liberation war of Bangladesh, he worked as the composer and music director at Swadhin Bangla Betar Kendra. He is also a founder member of the Rabindra Sangeet Shilpi Sangstha. His ever-present liberation songs including “Teer Hara Ei Dheu-er Sagor,” “Rokto Diye Naam Likhhechhi,” “Purbo Digonte Surjo Utheche,” and “Nongor Tolo Tolo” inspired the liberation war fighters during 1971. Swadhin Bangla Betar Kendra was the medium for radio broadcasting in 1971.

Correct Answer – B. 4th

Explanation: The fourth India-Swiss Financial Dialogue was held here virtually through video conferencing. Ajay Seth, Secretary Economic Affairs led the Indian delegation. The delegation from the Swiss side was led by Daniela Stoffel, State Secretary, and State Secretariat for International Finance, Switzerland.

About the Dialogue:

The dialogue, inter-alia, covered sharing of experiences by both countries for collaboration on various aspects including investments, International Financial Services Centre Authority (IFSCA), National Investment and Infrastructure Fund (NIIF), FinTech, sustainable finance and cross border financial services.Further, matters relating to G20, the International Monetary Fund (IMF) and tax challenges arising from the digitalization of the economy were discussed along with infrastructure financing, read the release.

Important Points:

• Switzerland Currency: Swiss franc;
• Switzerland Capital: Bern;
• President of Switzerland: Guy Parmelin.

Correct Answer – C. 10.1%

Explanation: he UN has raised India’s growth forecast to 7.5% for calendar year 2021, a 0.2% increase from its projection in January.However, the country’s outlook for the year remained “highly fragile”.The World Economic Situation and Prospects report also projected India’s GDP to grow by 10.1% in 2022.

Correct Answer – C. Jana Small Finance Bank

Explanation:  Jana Small Finance Bank has announced the launch of the “I choose my number” feature for all its customers across India. This new feature gives the bank’s existing and new customers the option to select their favourite numbers as their savings or current account number.

Correct Answer – B. 10.8%

Explanation:  Japanese brokerage Nomura cut its GDP growth estimate for India for the current 2021-22 fiscal to 10.8 per cent from the earlier 12.6 per cent, blaming the impact of the second wave-induced lockdowns.It said the activity levels have dropped further to 64.5 per cent of the pre-pandemic levels in the week to May 9 as per a proprietary index, after a further 5 percentage points drop in the week.The activity levels, at present, are at par with those seen in June 2020.

Correct Answer – B. HDFC Bank

Explanation: HDFC Bank has acquired a 10% stake in CSC Grameen e-Store, a special purpose vehicle run by the Ministry of Electronics and Information Technology, for an undisclosed amount.The partnership between the country’s largest private bank and CSC Grameen aims to deliver and scale access to financial services and banking products to semi-urban and rural customers.

Correct Answer – A. Yes Bank

Explanation: Private sector lender Yes Bank said it has appointed Indranil Pan as its chief economist.Pan joins the bank from rival IDFC First Bank.Pan and his team will provide strategic and policy-level inputs for the bank, based on macroeconomic developments at global and national level.

Correct Answer – B. Air India

Explanation: Cairn Energy has sued Air India to enforce a $1.2 billion arbitration award that it won in a tax dispute against India, according to a U.S. District Court filing.The British firm Cairn was awarded by an arbitration tribunal in December 2020.The body ruled India breached an investment treaty with Britain and said New Delhi was liable to pay.

Correct Answer – C. 10

Explanation: The government has granted tax exemption to 4 more foreign funds for their earnings from infrastructure investments made in India between now and March 2024.The exemption is for 3 pension funds and one UK development finance institution.They are now eligible for relief under section 10 of the Income Tax Act which deals with earnings not to be included in the taxable income.

Correct Answer – B. New Zealand

Explanation: World Rugby has confirmed the dates for the 2022’s women’s Rugby World Cup in New Zealand.The tournament will run from 8 Oct-12 Nov 2022.The 12-team tournament was due to be held in 2021.The third-place playoff and final will be played on 12 November 2022, with Eden Park set to create history by becoming the first stadium to host both the men’s and women’s Rugby World Cup finals.

New Zealand: 

• Capital – Wellington.
• Currency – New Zealand dollar.
• Prime Minister – Jacinda Ardern.
• National Sport – Rugby.

Correct Answer: B. Finland

Explanation: Epsilon Advance Material (EAMPL), a subsidiary of Epsilon Carbon has signed an MoU with Beowulf Mining plc to set up a joint venture company in Finland.According to the agreement, Epsilon and Beowulf will jointly develop a strategic processing hub for both natural flake and recycled graphite in Finland.The JV’s  Active Anode Material project will supply anode material to Europe.

Finland:

• Capital – Helsinki.
• Currency – Euro.